Real Estate Prediction for Raleigh, North Carolina
We’re mid-way through the year. What should we expect for the rest of the year? My prediction for the rest of the year is that real estate sales in Wake Co. will stabilize. Builders and sellers are lowering and discounting their home prices. You could see an increase in pre-existing home sales over new home sales.
Although still low, interest rates are slightly on the rise and will continue to increase. So take advantage of these rates why you still can. You will see a decrease in the refinancing loans because homes are not appreciating enough to offset the appraisal value. You might see fewer “for sale” properties has seller decide to hold on to their home. You will start to see the pendulum shift by Summer 2009. Mortgage lenders still need business, therefore they could bring back a few 100% financing programs.
Call me for details (919) 272-2802